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1497 E Indigo Street Gilbert, AZ 85298

4 Beds 2 Baths 1,831 sqft Built 2004

$420,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $229.38
  • 3 Days on Market
  • MLS # : 6157037
  • Updated Date : 11/06/2020 at 09:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,831 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

The perfect home awaits you! Situated on a North/South exposure lot directly across from a large park, this adorable home boasts so many upgrades including: Travertine Floors, Granite Slab Counters, Stainless Steel Appliances, Double Ovens, Plantation Shutters, Brand New Carpet & Paint, Designer Light Fixtures, 4 Large Bedrooms & 2 Remodeled Bathrooms! The Backyard is a desert oasis with a Pebble-tec pool w/ Baja step, a Fire-pit & Stadium Seating, tropical Vegetation including Citrus trees, Side grassy area & Paver-lined Double Patios! This Shea home's Great-room floorplan & High Ceilings just make sense & for easy living! The neighborhood boasts lots of Parks & Walking Trails & is close to 202 Freeway, Gilbert Mall, Chandler Schools & award wining Perry High School is just across the

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Dorada

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k366k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Vista Dorada

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362013

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Weinberg Elementary School Primary Regular 846 42 8
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7

Weinberg Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 42
8
GreatSchools Rating

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,550
Property Tax -$294
Property Insurance -$63
HOA -$25
Property Management Fees -$99
CASH FLOW
-$321

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$420,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$5,571

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,710

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,826

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,7104$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 1497 E Indigo Street Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,831 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,831 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.93
    •  
  • 1572 E Nightingale Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,845 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,845 Sqft ∙ Built 2005
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
  • 1377 E Chestnut Lane Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 2005
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 1455 E Mia Lane Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2004
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 1434 E Clark Drive Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
PROPERTY LISTING DETAILS
Brooke Zandt
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157037
Last Updated: 11/06/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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